Real Estate

Americans have almost $30 trillion in home equity: how to tap it

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Home equity hits near record high as house prices keep rising

Many Americans are house-rich, at least on paper.

Thanks to skyrocketing housing prices, homeowners are now sitting on nearly $30 trillion in home equity, according to the St. Louis Federal Reserve — just shy of the 2022 peak.

That’s roughly $200,000 cash per homeowner in equity that can be tapped, which is the amount most lenders will allow you to take out while still leaving 20% equity in the home as a cushion.

How to tap your home for cash



Source cnbc.com

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